Ref. No.

: AUSFB/SEC/2024-25/61
Date: April 24, 2024
To,

National Stock Exchange of India Ltd. BSE Limited

Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers,
Bandra Kurla Complex, Dalal Street,
Bandra (East), Mumbai 400051, Mumbai 400001,
Maharashtra. Maharashtra.

NSE Symbol: AUBANK Scrip Code: 540611, 957863, 957864, 958400,

959025, 974093, 974094, 974095, 974914,
974963, 975017 & 975038

Dear Sir/Madam,
Sub: Presentation to Investors on Audited Financial Results of AU Small Finance Bank Limited for the
Quarter and Financial Year ended on March 31, 2024
Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

In continuation to our intimation for Conference Call to discuss Financial Results of AU Small Finance Bank
Limited (“the Bank”) for the Quarter and Financial Year ended on March 31, 2024 vide letter dated
April 17, 2024, we submit herewith the Investors Presentation on the Audited Financial Results of the
Bank for the Quarter and Financial Year ended on March 31, 2024.

The Investors Presentation may also be accessed on the website of the Bank at the link:
https://www.aubank.in/investors/quarterly-reports.

Further, the audio/video recordings and transcript of the Conference call shall also be made available at
the above link within the prescribed timelines.

This is for your information and records.

Thanking You,
Yours faithfully,
For AU SMALL FINANCE BANK LIMITED
MANMOHAN Digitally signed by
MANMOHAN PARNAMI

PARNAMI Date: 2024.04.24 16:20:59

+05'30'
Manmohan Parnami
Company Secretary and Compliance Officer
Membership No.: F9999
investorrelations@aubank.in

Encl: As above
Investor Presentation
Q4’FY24 24th April’24
About AU Small Finance Bank

3
AU’s Journey

Started Motilal Oswal Warbug Commenced Industry First

operations as first operations as Credit Card Fincare SFB
Pincus as
from Jaipur as private equity SFB initiative merged
private
Vehicle partner. Recognized -LIT & Swipe Up with AU
equity
Financing investor as Scheduled
Started SBL Equity capital
Commercial
(now MBL) raise of ₹2,000 Cr
2003 lending 2010 2015 Bank 2021 2023
1996 Appointed
channel
2008 Equity
investment
2012 Received 2017 Launched
Digital Bank,
2022 Received AD- I 2024
SFB License from RBI
partner of from IFC License Video Banking
HDFC Bank from RBI Credit Cards Received RBI
Started Housing Approval for
Finance Co in Equity Capital merger with
2011 Raise of ₹625 Cr Fincare SFB

4
Well-recognised Banking franchise

“Best Technology Talent” Best Small Finance

“Best Financial Inclusion” Best Branded Bank
Campaign : TV
“Best Digital Engagement” By FE, By Mint BFSI

IBA 19th Annual India’s Leading Small

Banking Technology Finance Bank
Conference & Afaqs brand Storyz Awards
Citations 2022-23 2021, 2022, 2023 Dun & Bradstreet
2023, 2024

The Best Small Finance Most Impactful

Bank of India Financial Inclusion Company With Great
Women Employment
& Award Managers - 2023
Initiative of the Year
Best Performance in Risk
Management
Indian CSR Awards 2023
ICC Emerging Asia Banking FICO decision for “AU Udyogini” 2022, 2023
Awards Award 24 initiative

Rated Low Risk Rated AA

5
 Confluence of Scale, Growth, Asset Quality and Profitability Standalone

All figures as of Mar’24

₹ 87,182 Cr ₹ 73,999 Cr ~49.4 lacs 1,074

49% CAGR^ 33% CAGR^
Customer Base Touchpoints
Deposits Gross Advances

33% 1.67%# / 0.55% 18.8% / 20.1% 1.6%* / 13.5%*

CASA Ratio GNPA / NNPA Ratio Tier-1 Ratio / CRAR Avg ROA/ROE

~29.5 lacs 29,738 76% 9.6 lacs+

AU0101 Customers Employees PCR Credit Cards Live

# GNPA – 1.57% on Gross Loan Portfolio including securitised/assigned book

^CAGR is for the period FY18 to FY24; Few figures are adjusted for comparative purposes, wherever needed, basis internal MIS, throughout the
presentation * Figures are excluding exceptional items – Stamp duty for merger and other transaction expenses
6
Consolidated position post Fincare merger

Announced merger with Fincare in Oct 23 and received all required approvals for the merger by Mar’24.
Merger is effective 1st Apr’24

Standalone Fincare Proforma Merged

Deposits ₹87,182 Cr ₹10,522 Cr ₹97,704 Cr

Gross Loan
portfolio ₹82,175 Cr ₹14,315 Cr ₹96,490 Cr Cost of Fund
on Merged
basis
Balance Sheet ₹1,09,426 Cr ₹17,267 Cr ₹1,26,693 Cr
7.1%

Net Worth ₹12,560 Cr ₹2,421 Cr ₹14,981 Cr

Yield on
Customers Merged basis
49.4 Lacs 60.5 Lacs 1.10 Cr
14.2%
Employees 29,738 16,000+ 46,000+

Touchpoints 1,074 1,309 2,383

All figures as of 31st Mar’24; Merged Financial numbers including Net worth and B/S may undergo minor changes post adjustments
7
 Bank with strong execution track record (1/2) Standalone

Touchpoints Employees Customers

(in Lacs)

15% 18% 37%

1,027 1,074
28,320 29,738 49.4
919 27,817
744 22,484 38.6
647
558 17,112 27.5
474 12,623
11,151 17.2 20.2
12.3
7.5

FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24

₹ in Crores
Deposit Gross Advance* Balance Sheet Asset

49% 87,182 33% 73,999 1,09,426

34%
69,365 59,158 90,216
52,585 46,789 69,078
35,356 51,591
35,979 27,233 42,143
26,164 22,994 32,623
19,422 13,413 18,833
7,923

FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24

*CAGR of Advances including securitised/assigned book is 31%

8
 Bank with strong execution track record (2/2) Standalone

₹ in Crores
Net Interest Income PAT* Shareholders Fund

33% 33%
5,157 1,592 33%
1,428 12,560
4,425 10,977
1,130
3,234 7,514
2,365 6,275
1,909 596 600 4,377
1,343 292 382 3,163
940 2,281

FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24

RoA* RoE* BVPS in ₹ EPS in ₹*

Weighted Average - 1.7% Weighted Average – 14.4%

29% 29%
188
2.0% 165 24
1.9% 1.8% 22
1.5% 1.6% 1.6% 15.8% 16.4% 15.4% 119 19 18
1.3% 13.7% 14.0% 13.5% 100
12.0%
72 11
54 7
40 5

FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24

*Figures are excluding exceptional items - Profit from sale of Aavas stake in FY20 and FY21 and Fincare merger expenses (stamp duty and transaction expenses) in FY24
9
Robust asset quality through the cycles Standalone

In ₹ Crores
Particulars FY18 FY19 FY20 FY21 FY22 FY23 FY24
Gross Advances 13,413 22,994 27,233 35,356 46,789 59,158 73,999
Gross NPA 270 470 458 1,503 924 981 1,237
NPA Provision (incl. floating
100 176 240 747 694 736 836
provision)
Net NPA 169 295 217 755 231 245 401
Gross NPA % 2.01% 2.04% 1.68% 4.25% 1.98% 1.66% 1.67%
Net NPA % 1.27% 1.29% 0.81% 2.18% 0.50% 0.42% 0.55%
Provision Coverage Ratio % 37% 37% 53% 50% 77% 78% 76%

Credit cost impact on P&L incl. standard provision (as a % of avg advances)

With contingency Provision creation or Without Contingency Provision

utilization creation or utilization
2.12% 2.34%

0.91% 1.05%
0.86% 0.91%
0.62% 0.59% 0.62% 0.50% 0.72%
0.55%
0.25% 0.38%

FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY18 FY19 FY20 FY21 FY22 FY23 FY24

Range bound, best-in-class credit cost track record over last two decades

10
 Strategically organized across 6 business groups for greater efficiency

4 Retail Assets
1 Urban Branch Banking
o Wheels
(Focused on Urban Affluent
market) Insurance o Micro Business Loan (MBL)
o Home Loan
Payments

Wealth & PMS

2 Swadesh Banking, 5 Commercial Banking
Government and CMS
o Business Banking
Wholesale Deposits
o Agri Banking
(Focused on Core market)
o Real Estate Group
o SMF (Small and Marginal
3 Digital Bank AU0101 o NBFC Lending
Farmer) Lending
o Trade FX and AD - I
o Financial and Digital Inclusion
o Transaction Banking
Digital Products Digital Services/Channels
o Credit Card o AU0101 + Video Banking
6 Fincare Unit
o Microfinance
o Personal Loan o Merchant App
o Secured Business Loan (SBL)
o Merchant Lending o UPI QR, POS
o Home Loan
o Chatbot
o Gold Loan
o WhatsApp Banking

Note: Micro Business Loan (MBL) was earlier known as Secured Business Loan (SBL)
11
 Bank with a pan-India geographic presence Merged

21 States and 4 UTs 2,383 Touchpoints 469 Districts 682 ATMs

AU
Asset Mirco Finance
Center Centre

629 Branches 239 Asset Centres 777 MFI Centres

2,383
Touchpoints
AU

+
BANK AU
BO

78 Unbanked 630 BOs 30 BCs

Branches

9 States with more than 100 touchpoints

Map is for representative purpose only

12
Diversified deposits profile

Standalone Deposits Proforma Deposits profile after

profile considering Fincare merger
(22%)

0% 1% 1%
0% 1% Rajasthan (37%) 1%
2%
4% 2% 4%
Maharashtra
3% 2% 3%
Delhi (63%)
(78%) 23%
25%
Punjab 4%
5%
Gujarat
4%
Haryana
8%
Madhya Pradesh
7%
Uttar Pradesh
8% Karnataka
Himachal Pradesh 8% 20%
21%
9% Kerala
Tamil Nadu
8%
13% Telangana
12%
Others

0.4% Market 0.4% Market

Share Share

All figures are as on 31st Mar’24

13
Well diversified asset book

Standalone Advances Proforma Advances profile after

profile considering Fincare merger

1%
1% 2% Rajasthan 2%
0%
2% 3% 3%
0% Madhya Pradesh 3%
3% 3%
Maharashtra
5%
Gujarat 27%
32%
3%
6% Haryana 4%
Punjab
4%
6% Delhi
Andhra Pradesh 5%
Uttar Pradesh
11% Tamil Nadu 5%
14%
Telangana
16% Karnataka 11%
15% Chhattisgarh
13%
Other

0.4% Market 0.5% Market

Share Share

All figures are as on 31st Mar’24

14
Guided by distinguished Board of Directors
Mr. H R Khan Executive Directors
Part time Chairman & Independent Director
46+ years of experience
Masters in Arts & Philosophy, Diploma in Mr. Sanjay Agarwal
Business Mgt., CAIIB MD & CEO
29+ years of experience
Ex-Deputy Governor of RBI
Served on Boards of Several Banks & regulatory Bodies including FCA (All India Rank holder)
NHB & NABARD etc.

EY Entrepreneur of the Year Award 2018; Business Leader

of the Year, ICAI Awards, 2017
Mr. Kamlesh Vikamsey Ms. Kavita Venugopal
Independent Director Independent Director-(Additional)
42+ years of experience,
45+ years of experience in Banking
FCA, B. Com Industry Mr. Uttam Tibrewal
MBA, B.A.
Whole-Time Director
Senior Partner - KKC & Associates LLP
Chairman - IMAC Ex-CEO, Abu Dhabi Commercial Bank (ADCB), India 28+ years of experience
Member (AoC)- World Metrological Organization (WMO) Held leadership position in various Private Banks B. Com
Ex-Chairman - Audit Advisory Committee, UNICEF

Ms. Malini Thadani Associated with the Bank for more than 20 years
Prof. M S Sriram
Independent Director Independent Director
40+ years of experience 33+ years of experience (including
Masters in History, M.A., Certificate 22 years as an academic)
of Public Administration, Ohio MBA, Fellow, IIMB (equivalent to PhD)
Non-Executive Non-Independent
University, USA Director
Ex - Head of Corporate Sustainability, Asia at HSBC
Professor-Centre for public policy-IIMB
Mr. Divya Sehgal
Held leadership positions at Indian Revenue Services Additional Director (Non-Executive
Non-Independent)
27+ years of experience
Mr. Pushpinder Singh Mr. V G Kannan Bachelors in Electrical engineering- IIT
Delhi, PGDM, IIM Bangalore
Independent Director Independent Director
44+ years of experience in IT and
Payment Systems 46+ years of experience in Partner, TrueNorth
BSc, CAIIB Banking Industry Founder & Ex-COO- Apollo Health Street
B.B.A. , MBA

Ex MD - State Bank of India

Ex-CIO, Bank of India
Ex Chief Executive – Indian Bank Association
Ex Advisor, NPCI (FI & new business)
Ex Member of Governing Council - IIBF
Note: Board of Directors as on 1st April’24
15
 Well diversified Shareholding pattern

Fincare Business
KMP, Director & Solutions Limited
their relatives (Excluding 8.0% Others
Independent Director) Promoter & Promoter Group
1.9%
1.9% 22.9%
Individuals
7.4%
Foreign holding 37%
Domestic holding 63%

Mutual Fund
13.1%

Foreign Holding
36.6%

AIF
5.5%
Insurance
2.6%

Note: Shareholding pattern as on 1st April’24

16
2024-2027: our strategic priorities for AU@2027

Our Target RoA of 1.8% by 2027

Grow higher RoA Make Branches Leverage synergy Calibrate Maintain best-in-
Our Strategy
assets profitable from merger Investments class asset quality

• Focus on higher • Leverage Branch as • Use deep • No significant new • Maintain pristine
RoA, high yielding primary channel for distribution of platform building asset quality for
asset classes like origination and grow Fincare to grow investments till vintage businesses
MBL, Wheels, Current Account existing Wheels and 2027 for high risk-
Microfinance etc. business MBL businesses adjusted returns
• Moderate credit
• Increase mix of • To make 65% of our • Integrate liability card issuances to • Maintain Credit
higher RoA branches live as on branches of Fincare control variable card asset quality in
businesses from Dec’23, profitable by with AU seamlessly costs line with industry
70% to 72 - 75% Mar’27

Vintaged higher Complete product
Our Enablers RoA businesses suite for cross-sell
• Wheels ~25% CAGR • CA already scaled to
• MBL 20-22% CAGR 5%+
• Fincare 28-32% • Cross sell of insurance,
CAGR wealth, credit card,
Transaction banking,
business banking etc
Pan India network Newer initiatives Through the
and Cost synergies have scaled cycles track
record
• 2,383 touchpoints • Control variable cost
• Reduced in new businesses • Continued focus
incremental Cost of • Higher sourcing on maintaining
Funds for Fincare through Branches to underwriting
unit reduce acquisition standards
cost
17

17
For further information about the bank - Scan to Download

Analyst day Sustainability report

Annual Report FY23 AU Insights
presentation - Mar’24

18
Management Update Assets Performance

Operating & Financial Highlights Digital Bank AU0101

Liabilities Performance Other Key Information

19
1. Management Update

Completed 7 years In the journey of building

a “Forever Bank”

% RoA at 1.6% and RoE at 13.5% for FY24

excluding exceptional items

Focus on branch profitability & growing higher

RoA, higher yielding assets

Won “The Best Small Finance Bank” at Mint

BFSI Awards 2023

20
 Resilient performance despite multifold challenges Standalone

FY24, a year of challenging operating environment...

Sustained high Enhanced focus of policy

Inflation + Tight Liquidity +
competition for Deposits makers on customer
Higher Interest rates
protection
Large and mid-sized banks
Disruptions due to Geo-
equally aggressive Increased focus on AML
politics
impacting cost of funds and cyber security

…Impact on our business…

▪ Higher proportion of fixed rate book led to limited transmission of increased interest rates on asset side
▪ Increased cost of funds by 84 bps and NIM compression by 65 bps
▪ Cost has increased with greater customer centricity and towards strengthening controls & processes to combat emerging risks

…However, our performance continued to be robust

• MD, ED term
M&A with Fincare; CD Ratio – 84%
Deposits 26% Delivered RoA of renewal for 3 yrs
gain distribution + PCR – 76%
Gross Loans 28% 1.6%* • AD-I license
high RoA Assets CASA+Retail - 64%
• Merger approval

Continued growth Amalgamated Regulatory Compliance in

Sustained returns
momentum another Bank approvals letter & spirit

* Excluding exceptional items – Stamp duty for merger and other transaction expenses
21
 Key messages Standalone

What we delivered in FY24 What we expect in FY25

❑ Merged with Fincare to deepen Financial Inclusion and Macro environment:

expand distribution in South India; Fincare asset is book value ❑ Interest rates to remain elevated as timing of any
accretive and to help expand margins and RoA potential rate cut remains uncertain due to global macro
and geo-politics
❑ Operationalized AD-I license with foray in Forex with ‘AU
Remit’ and Cross-border Trade with ‘AU DigiTrade’ ❑ Heightened competitiveness for deposit mobilization is
likely to continue with sustained credit demand
❑ Grew Deposits by 26% YoY in a highly competitive market
with CASA at 33% and CoF contained at 6.80% for FY24 vs
Our focus:
5.96% for FY23
❑ RoA on merged basis to be maintained around AU’s FY24
standalone RoA levels, as Cost of Funds for FY25 is
❑ RoA at 1.6%* and RoE at 13.5%* in a challenging year;
expected to be higher by 40-45 bps over FY24
Reported RoA of 1.5% and 13.0% post one-off merger expenses
❑ Expand share of high RoA businesses in disbursements
❑ Announced dividend of ₹1/- per share for FY24 subject to
shareholder’s approval
❑ Smooth integration of Fincare business – leverage their
deep rural/semi-urban distribution to scale Wheels, MBL
❑ Other income grown by 69% YoY supported by initiatives on
credit cards, and third-party products
❑ Drive fee income by increased focus on cross-sell
❑ GNPA at 1.67%; NNPA at 0.55%; PCR at 76%;
❑ Maintaining cost discipline and asset quality whilst
absorbing inflation
❑ Launched successful brand campaign targeting audiences
across TV, Print, Radio & Digital. Our post-campaign
❑ Calibrate investments with focus on operational efficiency
awareness surged by 31% as compared to a 4% industry avg@

*Figures are excluding exceptional items – Stamp duty for merger and other transaction expenses; @ As per Kantar Brand Track Report
22
Merger economics – more favourable than anticipated

Particulars Expectation from Fincare Actual position on effective date @

Merger @ 29th Oct 23 (₹ Cr) 1st April 24 (₹ Cr)
Fincare Net Worth – H1’FY24 1,539 1,539

Capital Infusion 700 700

Net Worth as on 31st Mar’24 ~2,400 2,421

Additional Transaction ~300 All transaction related expenses

Expenses to the account of AU incurred/provided for except ~₹ 50-60 Cr

• ~₹77 Cr incurred in FY24 by AU

• ~₹50-60 Cr to be incurred as BAU
expenses over next 2-3 years
• All other expenses have been provided
by Fincare in FY24

• Large part of merger expenses have already been incurred in FY24 between Fincare and AU – Stamp duty,
M&A expenses, policy harmonization expenses and bulk of the promised cash/retention bonus

• ~₹50 -60 Cr additional expense may arise over the next 2 years towards IT integration, Tech Infra, employee
ESOPs and branch infrastructure etc. These will be treated as business-as-usual (BAU) expenses

• Actual upside of ~₹140 - 150 Cr over expected valuation at the time of merger

23
Update on Fincare integration

❑ Fincare has become a separate SBU within AU SFB with all asset businesses of Fincare
continuing within this unit – Microfinance, Secured Business Loans, Affordable Housing and
Gold Loans
Formation of
❑ Liability Branches of Fincare have been integrated with AU Liability team – Deposit interest
Fincare Unit rates have been aligned from Day 1
❑ All control functions like Credit, Audit, Risk Management, Finance and Compliance have
been aligned with AU’s central control functions

❑ Mr. Rajeev Yadav has been designated as Dy CEO, AU SFB (along with Mr. Uttam Tibrewal –
ED and Dy CEO, AU SFB) and would be specifically responsible for
▪ Fincare Unit and,
People ▪ IT vertical of the Bank
❑ Fincare CFO has decided to move on for pursuing other interests; He will continue to be with
the Bank for 10 months as an advisor to the Bank. Other Senior management of Fincare
remains aligned. No change in reporting or location for majority of the Fincare employees

❑ On a proforma basis, microfinance business accounts for 8.3% of merged loan portfolio as on
31st March’24
▪ Over the next 3 years, our endeavor would be to keep it around 10% of loan portfolio
Credit Risk ❑ In FY24, Fincare incurred a credit cost of ~1.6% on microfinance book (net of recoveries)
▪ We will provide credit cost of 2.5% - 3% p.a. on the microfinance business every year
▪ Any unutilized portion from this 2.5%-3% credit cost, in any year, shall be used to create
countercyclical buffer for Microfinance business

24
 FY24 Financial performance snapshot Standalone

❑ Deposits grew 9% QoQ with CASA growth of 10% QoQ; CASA ratio at 33%; CASA + Retail
₹1,09,426 Cr
Balance Sheet TD mix at 64%
+21% YoY
❑ Deposits continue to reprice, and the cost of funds rose by 8bps QoQ to 6.98% for
₹87,182 Cr Q4’FY24; average CoF for FY24 at 6.80% - up by 84 bps from last year CoF of 5.96%
Deposits
+26% YoY
❑ Bank securitized ₹616 Cr of loans during the quarter and the total securitized book
₹73,999 Cr stands at ₹8,176 Cr; and gross loan portfolio (including the securitized/assigned book)
Gross Advance grew by 28%
+25% YoY
❑ GNPA decreased by 31 bps during the quarter to 1.67%; Adjusting for securitised book,
Gross Loan GNPA is at 1.57% vs 1.83% as on Q3’FY24; Standard restructured assets have reduced
₹82,175 Cr
Portfolio to 0.6% of gross advances
❑ In FY24, PPoP saw a strong growth of 25% YoY backed by NII growth of 17% YoY and
CASA/CD Ratio 33%/84% other Income growth of 69% YoY
❑ Cost/Income ratio for FY24 at 63.6% vs. 63.0% in FY23;
GNPA/NNPA 1.67%/0.55%
❑ PCR at 76%; Bank has additional ₹70 Cr of provision against standard restructured
assets and ₹41 Cr of floating provisions.
₹1,592 Cr*
Net Profit ❑ Excluding exceptional items, Q4’FY24 PAT grew by 14% QoQ at ₹428 Cr; Full year
12% YoY
FY24 PAT at ₹1,592 Cr vs ₹1,428 Cr in FY23, RoA and RoE for Q4’FY24 stood at 1.6% and
13.9% respectively; Reported RoA of 1.54% and RoE of 13.04% for FY24 post exceptional
RoA/RoE 1.6%*/13.5%* items
❑ Average LCR for the quarter was at 117%
Tier I/CRAR 18.8%/20.1%

* Figures are excluding exceptional items – Stamp duty for merger and other transaction expenses;
Figures throughout this presentation may be subject to rounding adjustments and therefore may not sum precisely to totals given in charts, tables or commentary
25
 Our digital proposition continues to scale well

AU0101 Video Banking Credit Cards UPI QRs

29.5 Lacs+ 5.8 Lacs# 9.6 Lacs ~11.5 lacs

Customers on AU0101 Digital CASA Accounts Live cards QR Codes installed

15.9 Lacs+ ₹1,730 Cr+ ₹1,900 Cr+ ₹378 Cr+

Business loan disbursed
Monthly Active Users Total relationship value Monthly spends in
basis QR transactions
Mar’24

12.9 Lacs 19% ₹20,000+ 71%

Customers with pre- Customers with two or monthly spends per
QRs activation rate
approved offers in Mar’24 more products Card

5% 1 Lac+ 54% 109%

Customers active in Q4 Increase in CASA AMB
availed their next product Service and Engagement Monthly purchase
video calls in Q4’FY24 active Mar’24 post QR Code install
on AU0101 *

All the figures are cumulative till Mar’24 except otherwise mentioned.
# Includes CA, SA, Salary, ETB SA;
* SA, CC, TD, PL, and Xpress EMI
26
2. Operating & Financial Highlights

Deposits grew by 26% YoY and 9% QoQ

Gross loan portfolio crossed ₹82,000 Cr

FY24 PPoP growth of 25% YoY

NIM for FY24 stands at 5.45% including

securitised book

27
 Profitability ratios – Q4’FY24 and FY24 Standalone

NII (%) Other Income (%)

5.7% 5.6% 2.1%

5.2% 1.6% 1.7%
5.1% 1.3%

Q4'FY23 Q4'FY24 FY23 FY24 Q4'FY23 Q4'FY24 FY23 FY24

RoA Components
Opex (%) Provision & Contingencies (%)

4.6% 4.7% 0.5% 0.4%

4.3% 4.4%
0.2% 0.2%

Q4'FY23 Q4'FY24 FY23 FY24 Q4'FY23 Q4'FY24 FY23 FY24

RoA* (%) Cost to Income (%) RoE* (%)

2.5%
2.0%
1.5%
1.0% 2.0% 1.8% 63.1% 64.9% 63.0% 63.6% 15.8% 15.4%
1.6% 1.6% 13.9% 13.5%
0.5%
0.0%
Q4'FY23 Q4'FY24 FY23 FY24 Q4'FY23 Q4'FY24 FY23 FY24 Q4'FY23 Q4'FY24 FY23 FY24

Note: RoA, NII, Other income, Opex, Provisions & Contingencies is represented as % of Avg. Total Asset
* Figures for Q4FY24 and FY24 are excluding exceptional items – Stamp duty for merger and other transaction expenses
28
 FY24 Financial highlights Standalone

₹ in Crores
Net Interest Income Total Income PAT*

1,592
5,157 12,301
4,425 1,428
9,240

FY23 FY24 FY23 FY24 FY23 FY24

Yield on Advance Cost of Fund Net Interest Margin RoA* RoE*

Vs Vs Vs Vs Vs
13.4% 5.96% 6.10% 1.8% 15.4%
(FY23) (FY23) (FY23) (FY23) (FY23)

GNPA NNPA Provision Coverage Ratio CRAR Tier-I CRAR

Vs. Vs Vs Vs Vs
1.66% 0.42% 78% 23.6% 21.8%
(31st Mar’23) (31st Mar’23) (31st Mar’23) (31st Mar’23) (31st Mar’23)

* Figures for Q4FY24 and FY24 are excluding exceptional items – Stamp duty for merger and other transaction expenses
29
Quarterly trends of key parameters Standalone

Customers Employees Shareholders’ Funds Total B/S Assets

(in Lacs) (in 000s)

1,09,426
46.8
49.4
28.3 28.4 28.5 28.9 29.7 11,763 12,167 12,560
44.3 11,379 1,01,176
41.3 10,977 95,977
38.6 90,216 91,583

Q1'FY24

Q3'FY24
Q4'FY23

Q2'FY24

Q4'FY24
Q3'FY24
Q4'FY23
Q1'FY24

Q2'FY24

Q3'FY24

Q1'FY24
Q4'FY23

Q4'FY24

Q2'FY24

Q4'FY24
Q1'FY24

Q3'FY24

Q4'FY24
Q4'FY23

Q2'FY24

Deposits CASA Deposit Gross Advances GNPA and NNPA (%)

87,182 29,126
26,660 73,999 1.91% 1.98%
75,743
80,120 25,666 26,446 67,624 1.76%
24,286 63,635 65,029 1.66% 1.67%
69,365 69,315 59,158
GNPA

NNPA
38% 35% 34% 33% 33% 0.42% 0.55% 0.60% 0.68% 0.55%

Q1'FY24

Q3'FY24
Q4'FY23

Q2'FY24

Q4'FY24
Q1'FY24

Q3'FY24
Q4'FY23

Q2'FY24

Q4'FY24

Q1'FY24

Q3'FY24
Q4'FY23

Q2'FY24

Q4'FY24

Q1'FY24

Q3'FY24
Q4'FY23

Q4'FY24
Q2'FY24
₹ in Crores
30
 Quarterly trends of key parameters Standalone

₹ in Crores

Net Interest Income Total Income PAT* Gross Advance Yield

1,325 1,337 3,385 425 428

1,246 1,249 3,186 402 13.4% 13.4% 13.3%
1,213 2,957 387 375 13.2% 13.2%
2,773
2,608

Q3'FY24
Q4'FY23

Q1'FY24
Q1'FY24

Q3'FY24

Q4'FY24
Q4'FY23

Q2'FY24
Q2'FY24

Q4'FY24

Q1'FY24

Q3'FY24

Q4'FY24
Q4'FY23

Q2'FY24
Q1'FY24

Q3'FY24
Q4'FY23

Q2'FY24

Q4'FY24

Cost of Fund Net Interest Margin RoA* RoE*

6.7% 6.9% 7.0% 6.1% 15.8%

6.6% 2.0% 13.8% 13.9% 13.9%
6.3% 5.7% 1.7% 12.5%
5.5% 5.5% 1.7% 1.6%
1.5%
5.1%

Q1'FY24

Q3'FY24
Q4'FY23

Q2'FY24

Q4'FY24
Q1'FY24

Q2'FY24

Q3'FY24
Q4'FY23

Q4'FY24
Q1'FY24

Q1'FY24
Q3'FY24

Q3'FY24
Q4'FY23

Q4'FY23

Q2'FY24
Q2'FY24

Q4'FY24

Q4'FY24
* Figures for Q4FY24 are excluding exceptional items – Stamp duty for merger and other transaction expenses
31
Incremental spreads have started to move up Standalone

Incremental Spreads GA Spreads

13.1% 13.4% 13.7% 13.5% 13.6% 13.4% 13.4% 13.3% 13.2% 13.2%

7.8% 7.6% 7.8%

6.7% 7.7% 7.1% 6.8% 6.7% 6.9% 7.0%
6.4% 6.3% 6.6% 6.3%
5.6% 6.1% 5.7% 5.8% 6.6% 6.2%

Q4'FY23 Q1'FY24 Q2'FY24 Q3'FY24 Q4'FY24 Q4'FY23 Q1'FY24 Q2'FY24 Q3'FY24 Q4'FY24
Gross Advance Yield Average COF Spread
Disbursement Yield Incremental COF Incremental Spread

❑ Incremental cost of funds for Q4’FY24 declining by 4bps to 7.71%, compared to Q3’FY24 whereas the incremental
disbursement yields increased by 8bps to 13.56%, compared to Q3’FY24

❑ For FY24, the disbursement yields increased by 39 bps as compared to 84bps increased in CoF

❑ Bank’s endeavour will be to grow high RoA, high Yield businesses and look to pass on the increased cost

32
 Profit & Loss statement Standalone

In FY24 :
(All Figures in ₹ Crore) FY24 FY23 Y-o-Y Q4'FY24 Q4'FY23 YoY Q3'FY24 QoQ

Income ❑ PPoP grew at 25% YoY supported by

Interest Earned 10,555 8,205 29% 2,829 2,275 24% 2,736 3% Other Income
Interest Expended 5,398 3,780 43% 1,492 1,062 41% 1,411 6%
❑ Securitization of ₹616 Cr of loan
Net Interest Income 5,157 4,425 17% 1,337 1,213 10% 1,325 1%
portfolio during the last quarter
Treasury Income 52 -44 N.A 7 1 690% 17 -56%
Other Income (excl. Treasury) 1,694 1,079 57% 548 332 65% 433 27% ❑ NII saw support from income on
Total Other Income 1,746 1,034 69% 556 333 67% 450 24% securitised book as the overall
Net Income securitised portfolio reached ₹8,176 Cr
(NII + Other Income) 6,903 5,460 26% 1,893 1,546 22% 1,775 7%
❑ Inflationary pressures in the input cost
Expenses
remain a key monitorable for
Employee Cost 2,104 1,793 17% 556 483 15% 529 5% operating expenses in the current
Other Operating Expenses 2,284 1,647 39% 673 493 36% 589 14% environment
Operating Expenses 4,388 3,440 28% 1,228 975 26% 1,117 10%
PPoP ❑ The tax rate for FY24 at 23.24% as
2,515 2,019 25% 664 571 16% 657 1%
against 23.4% in FY23
Provisions 439 155 183% 133 41 224% 159 -17%
Profit Before Tax 2,076 1,865 11% 532 530 0% 498 7%
Tax expenses 484 437 11% 103 105 -2% 123 -16%
Profit After Tax before
1,592 1,428 12% 428 425 1% 375 14%
exceptional items
Exceptional Items* 57 - N.A 57 - N.A - N.A
Reported Profit After Tax 1,535 1,428 7% 371 425 -13% 375 -1%

* Exceptional items include Stamp duty for merger and other transaction related expenses
33
Balance sheet Standalone

(All Figures in ₹ Crore) 31st Mar'24 31st Mar'23 YoY 31st Dec'23 QoQ
A Stable and healthy balance sheet led
Liabilities
by -
Shareholders Fund 12,560 10,977 14% 12,167 3%
Deposits 87,182 69,365 26% 80,120 9%
▪ Strong Capital adequacy ratio of
Borrowings 5,479 6,299 -13% 5,414 1%
20.1%
Other Liabilities and Provisions 4,205 3,575 18% 3,474 21%
Total Liabilities 1,09,426 90,216 21% 1,01,176 8%
▪ Deposit led asset growth – CD ratio
Assets
at 84%; Borrowings at 5%, mostly
Cash and Balances 6,376 9,425 -32% 5,155 24%
refinance (77%) and Tier II
Investments 27,133 20,072 35% 26,714 2%
borrowings (18%)
Advances 73,163 58,422 25% 66,740 10%
Fixed Assets 852 740 15% 807 6% ▪ Focus on optimising liquidity
Other Assets 1,902 1,557 22% 1,760 8% throughout the year
Total Assets 1,09,426 90,216 21% 1,01,176 8%
Securitised Loan Assets 8,176 4,914 66% 8,553 -4%

34
Other Income Standalone

(All Figures in ₹ Crore) FY24 FY23 Y-o-Y Q4'FY24 Q4'FY23 YoY Q3'FY24 QoQ

Loan Assets Processing & Other Fees 784 637 23% 235 183 29% 200 17%
General Banking, Cross Sell & Deposits related fees 499 210 136% 188 70 165% 125 51%
PSLC Fees 2 56 -96% 2 17 -85% 0 N.A
Credit Card 299 112 167% 88 41 113% 88 0%
Miscellaneous 110 64 74% 35 21 70% 19 79%
Core Other Income 1,694 1,079 57% 548 332 65% 433 27%
Income from Treasury Operations 52 -44 N.A 7 1 N.A 17 -56%
Other Income 1,746 1,034 69% 556 333 67% 450 24%

❑ Other Income growth for FY24 is at 69% YoY driven by fee income from Treasury income, third-party product distribution and credit cards

❑ Miscellaneous Income includes trade income and recovery from written off loans

35
Operating expense breakup Standalone

(All Figures in ₹ Crore) FY24 FY23 YoY Q4'FY24 Q4'FY23 YoY Q3'FY24 QoQ

Employee cost (other than new business Initiatives) 1,919 1,594 20% 519 458 13% 476 9%
Other Operating expenses towards Business as Usual (BAU) 1,674 1,340 25% 460 361 27% 433 6%
New Business Initiatives (cards, QR, VB, brand & distribution) 796 506 57% 249 156 60% 208 20%
Credit card/ QR / video banking 653 314 108% 199 119 66% 170 17%
Distribution expansion 53 148 -64% 9 20 -52% 6 70%
Branding expenses 89 44 103% 41 17 144% 33 24%

Total Operating Expenses 4,388 3,440 28% 1,228 975 26% 1,117 10%
Expense Ratio
Employee Cost (other than new business Initiatives) 1.9% 2.0% -8 bps 2.0% 2.1% -17 bps 1.9% 4 bps
Other Operating expenses towards Business as Usual (BAU) 1.7% 1.7% -1 bps 1.7% 1.7% 6 bps 1.8% -1 bps
New Business Initiatives (cards, QR, VB, brand & distribution) 0.8% 0.6% 16 bps 0.9% 0.7% 22 bps 0.8% 10 bps

Opex % (on Average Assets) 4.4% 4.3% 8 bps 4.7% 4.6% 10 bps 4.5% 13 bps

❑ Operating expenses does not include exceptional items incurred in Q4’FY24

❑ Continued investment in cards, digital, distribution expansion and brand builtout
❑ Focus on optimizing operating cost and building efficiency and productivity through digital and other
initiatives. Stable manpower in last 27 month

36
SBU profitability – FY24 Standalone

Retail Commercial Credit Card & Investments Regulatory

Total Loan Total B/S
Business Segments Banking Banking Liabilities Other Digital other than Cost (CRR, Total PAT
Assets Assets
Assets Assets Initiatives Regulatory SLR & LCR)

Gross Loan Portfolio Proportion 78% 22% 100% - - - - - -

Gross Loan Portfolio Growth (YoY) 25% 39% 28% - - - - - -
PAT (₹ Crore) 1,836 424 2,260 2,260 (149) (268) 21 (272) 1,592

Return on Assets (RoA) 3.42% 2.76% 3.27% 2.26% (0.15%) (0.27%) 0.02% (0.27%) 1.60%

ROA based on Average Gross Loan Portfolio Average Total B/S Assets

❑ The above figures are approximations basis internal methodology & FTP and are only for providing a broad understanding of SBU profitability
❑ Gross Loan Portfolio includes securitised/ assigned loans
❑ Retail Assets includes Wheels, MBL, Home Loan, Gold Loan, Personal Loan, OD Against FD, Financial and Digital Inclusion
❑ Commercial Assets includes Business Banking, Agri Banking, NBFC Lending & Real Estate Group
❑ Liabilities comprises of Branch banking and other deposit segments

37
Summary snapshot of Fincare SFB’s audited financials for FY24

P&L in ₹ Crore FY24 Balance Sheet in ₹ Crore 31st Mar'24

Income
Liabilities
Interest Earned 2,671
Interest Expended Shareholders Fund 2,421
1,023
Net Interest Income 1,647 Deposits 10,522
Treasury Income 2 Borrowings 3,760
Other Income (excl. Treasury) 341 Other Liabilities and Provisions 565
Total Other Income 343 Total Liabilities 17,267
Net Income
(NII + Other Income) 1,990 Assets
Cash and Balances 1,152
Expenses
Employee Cost Investments 3,185
794
Other Operating Expenses 489 Advances 12,358
Operating Expenses 1,283 Fixed Assets 66
PPoP 707 Other Assets 507
Provisions 167 Total Assets 17,267
Profit Before Tax 539
Tax expenses 144
Profit After Tax 395

38
Fincare snapshot Standalone

₹ in Crores

As of 31st Mar 24 As of 31st Mar 24

Deposits
Segments Gross
Gross NPA (%) Amount (₹ Cr)
Loan Portfolio ROI (%)
Current Account 111
Microfinance 8,007 25.4% 1.4%
Savings Account 2,218
MBL 2,542 18.5% 2.2%
Term Deposit 8,192
Housing 2,198 1.3.9% 1.0%
Retail Term Deposit 6,331
Loan Against Gold 1,350 16.3% 1.6%
Others 218 n.a. n.a. Bulk Term Deposit 1,862
Fincare Business 14,315 ~21% 1.6% Total Deposit Book 10,522

39
3. Liabilities Performance

CASA deposit grew 10% QoQ, CASA ratio at

33%; CASA + Retail TD at 64%

Current Account grew by 45% YoY

% CD Ratio at 84%

CoF for FY24 at 6.80%

40
 Evolution of the Branch Banking charter Standalone

Structure Deposits Liability Branches*

Consolidated Unit of Liabilities 7,923

2017-18 Garner deposits with customer
Mar'18 7,923 41% 27% Mar'18 212 80 14

mix ranging from Government,

Co-operative Banks, Retail
Customers etc
12,989

Mar'20 13,175 Mar'20 215 98 42

26,164 44% 14%
Separate Verticals Established
2019-20
Branch Banking, FIG,
Government, Wholesale, Co-
operative Bank, NBFC
Mar'22 34,757 17,828 52,585 67% 37% Mar'22 229 184 65

Branch Banking as a SBU

Build a portfolio of GIST
2020-23 (Granular, Individual, Small
Business, Transacting) Mar'23 47,968 21,397 69,365 69% 38% Mar'23 232 242 73
customers to raise Low-cost,
Stable retail deposits

8,405

Swadesh Banking established 87,182 64% 33%

2023 to focus on our rural markets
Mar'24 55,195 23,582 Mar'24 232 259 78
onwards
Urban Branch Banking Core Urban URC
Total CASA +
Swadesh Banking CASA %
Deposits Retail TD %
Note: Urban Branch Banking and Swadesh Banking are as NBFC, FIG, Wholesales, Govt., Co-op
per internal classification and will be subject to changes Bank, Video Banking & CD *Excludes BO/BC
41
Deposits snapshot Standalone

Focus on granular deposits and retail customer profile

₹ in Crores
120%
Total Deposits 69,365 69,315 75,743 80,120 87,182

100% 4% 4% 4% 4% 4% TASC
Certificate 631 684 993 1,117 2,463
11% 7% 7% 6% 7%
of Deposits
10% 9% 10% 9%
5,338 80% 10% Govt
3,831 14% 18% 17% 18%
3,680 4,636 14%
3,240
60%
23,788 Banks
22,615
21,030
22,980 21,046 40%
65% 62% 63% 62% Corporates
60%
52,557 55,593 20%
44,346 49,083
42,074 Individual+HUF+Sole
Proprietor+Partneship
0%
& Others
Q4'FY23 Q1'FY24 Q2'FY24 Q3'FY24 Q4'FY24 Q4'FY23 Q1'FY24 Q2'FY24 Q3'FY24 Q4'FY24

TD SA CA

Daily Average balance Retail and Bulk TD mix

3,919
2,853 4,108 3,319
2,948 50% 49% 51% 52% 53%

21,982 23,875
20,759 21,173 20,923
50% 51% 49% 48% 47%

53% 50% 53% 54%

53%
Mar'23 Jun'23 Sep'23 Dec'23 Mar'24 Q4'FY23 Q1'FY24 Q2'FY24 Q3'FY24 Q4'FY24

Savings Account Current Account Retail Bulk

42
AU wealth – enhancing value proposition for our deposit customers
Our Wealth proposition across customer segments
Banking & Wealth Continuum Customer Segment Wealth Solutions Services/Platform

2023 – PMS, AIF & Fixed Income Alternative Investment Funds1, Debt
Solutions PMS, Bonds & other wealth services Dedicated Wealth Specialist

2022 – Mutual Funds

IVY

Royale
+
PMS referral & Risk profile based Wealth Specialists
Mutual Fund pack
2019 – Savings Accounts
Platinum &
+
Mutual Funds, Integrated Branches & Video Banking
2017 – Fixed Deposits ASBA/IPO & 3-in-1 broking service
Others
Dedicated Relationship Manager & AU0101 Platform for all segments

Early offshoots of success visible

❑ 29% QoQ growth in Investment AUM from Dec’23 to Mar’24 1.7L+ 39k+
Customers Customers with live SIPs2
❑ Addition of ~8k wealth customers onboarded during the quarter

❑ Count of live SIPs crossed 1 Lac during the quarter

❑ Introduced IPO ASBA facility for “minor” accounts through our digital platform (IB/MB) 674 Cr
Total AUM

Note: 1- PMS, AIFs & Bonds are offered only on referral basis 2 - Customers with at least 1 active SIP registered through the bank
43
 Building a Predictable, Scalable and Sustainable deposit franchise

Distribution becoming sharper with expanding scale ❑ Differentiated approach for Urban and Core markets
▪ Established Swadesh banking to cater to Semi
Urban/Rural Markets
❑ Now a Pan India Bank with Presence in 21 states & 3 UT’s
▪ From Jammu to Kochi & Mumbai to Assam
❑ Building up dedicated Channels (CA, NR,TASC, ES, KAM)
First Principles
Thinking
Raising Low-cost, stable retail deposits

❑ Raising solution-driven deposits through the acquisition Managed by rigorous sales management framework
of GIST customers Customer
Centricity ❑ Ties everything together, makes the machine coherent
❑ Customer segment specific approach (UYC)
and brings agility to the system
▪ USPs for various segments ▪ Balance scorecard for sales employees focused on
customer engagement, customer service and ACID
(Audit, Compliance, Integrity & Discipline)
Best-in-Class ▪ Capsulized targets (with built-in Gamification)
Governance
Relationship
transaction
Dedicated focus on building Current Account Book
Focused efforts on customer acquisition & engagement
❑ Increasing quantity and quality of CA acquisition
Effective Sales &
❑ Deepening engagement with CA customers by Resource ❑ Increasing pace of retail CASA customers’ acquisition
Management
providing business solutions (QR/POS/CMS/CNB etc.) ❑ Dedicated efforts on customer engagement to garner
❑ Focus on leveraging Commercial Banking ecosystem trust and gain mindshare.
❑ Putting efforts to provide more solutions (product per
Focus on catering to customer’s entire banking ecosystem
customer)
❑ Source Current accounts from customers who have entrusted us
with SA/Deposit relationship in last 6 years.
❑ Focus on Family Banking and providing comprehensive Banking
Solutions (Wealth & Insurance, Credit Card, Retail Assets, AU0101)
44
4. Assets Performance

Sustainable and Scalable business model

Disbursement yield increased by ~39 bps

YoY

GNPA ratio at 1.67%; NNPA at 0.55%

PCR at 76%

45
 Strong, secured and established asset franchise Standalone

❑ Vintage book and tested business model; High RoA, high ❑ Unique product proposition with ~ 15 year’s of experience
yielding business ❑ High RoA, high yielding business
❑ Growing opportunity in used and new vehicles ❑ Strong collateral understanding
especially in core markets ❑ Deep penetration in core markets
* ❑ Deep penetration in core markets; Core Asset ❑ Strong and nuanced *
scalable in urban Principles underwriting and legal/
❑ Significant headroom to grow ✓Small Ticket size technical know-how built over
market share given our size ✓Backed by security
a decade
✓Risk-based pricing
❑ Banking platform gives significant ✓Mainly for income
competitive advantage generation purpose with
defined end-use
✓Customer Service has been
❑ Significant growth potential in our forte ❑ Complete suite of Fund based &
✓Strong local and ground
affordable housing understanding and connect Non- Fund based products
❑ Natural competitive advantage as a ❑ Presence across Business & Agri

*
Bank vs HFC Banking aided with NBFC and REG *
❑ Strong cross-sell potential to bank’s growing customer base helping us build the Banking franchise
❑ Natural progression to cater to 1,074 Bank’s touchpoints from ❑ Opportunity to grow with the customer
~236 currently as their house bank
❑ Entire suite of products available to meet customer requirements ❑ AD-I will provide further impetus and
cater wider customer base

*% of Gross Advances as on 31st Mar’24; Commercial Banking book is excluding SME

46
Asset book snapshot Standalone

₹ in Crores
Q4'FY24 Q4'FY23 Q3’FY24
Vintage Assigned/ Gross Assigned/ Gross Assigned/ Gross
Segments Gross Gross Gross Gross
(Year) Securitised Yield (%) NPA Securitised NPA Securitised Yield NPA
Advances NPA Advances Yield (%) Advances
loans (%) loans (%) loans (%) (%)
Retail Assets 48,915 8,172 14.2% 1,046 2.1% 41,841 4,899 14.2% 2.1% 44,911 8,546 14.2% 2.6%
- Wheels 1996 22,461 6,441 14.4% 455 2.0% 19,023 3,859 14.0% 2.2% 20,375 6,693 14.3% 2.6%
- Micro Business Loans 2007 20,552 1,589 14.8% 561 2.7% 18,535 1,040 15.0% 2.5% 19,231 1,702 14.8% 3.1%
- Home Loan 2017 5,902 143 11.6% 30 0.3% 4,283 11.8% 0.3% 5,306 151 11.6% 0.6%
Commercial Assets 18,162 10.9% 60 0.3% 12,759 3 11.0% 0.2% 16,386 11.0% 0.4%
- Business Banking 2017 7,304 10.2% 34 0.5% 4,969 10.4% 0.2% 6,806 10.4% 0.5%
- Agri Banking 2018 5,953 10.4% 16 0.3% 3,998 10.6% 0.4% 5,337 10.5% 0.3%
- NBFC 2014 2,972 11.3% 9 0.3% 2,551 11.1% 0.1% 2,697 11.4% 0.3%
- REG 2013 1,934 14.9% 2 0.1% 1,240 3 14.7% 0.3% 1,546 14.9% 0.1%
Credit Card 2022 3,058 12.4% 62 2.0% 1,468 13.5% 1.3% 2,740 12.0% 1.9%
Personal Loan 2020 866 17.9% 39 4.5% 642 17.9% 2.4% 794 18.0% 4.0%
Others* 2,832 15 0.5% 2,200 0.2% 2,608 0.5%
SME (Run Down) 2010 165 3 12.7% 16 9.9% 248 11 12.5% 8.8% 185 7 12.7% 10.0%
Total 73,999 8,176 13.2% 1,237 1.67% 59,158 4,914 13.4% 1.66% 67,624 8,553 13.2% 1.98%

❑ Standard Covid restructured book declined to 0.6% of gross advances; Restructured advances of ₹8 Cr upgraded during the quarter

*Others includes ODFD, Term lending and Gold loans etc.

47
NPA movement Standalone

₹ in Crores

NPA Movement Q4'FY24 Q4'FY23 Q3'FY24

Opening NPA 1,340 1,019 1,245

Additions during the period* 296 191 403

Less: Recoveries & Write Offs during the period 399 229 308

Closing NPA 1,237 981 1,340

NPA Summary Q4'FY24 Q4'FY23 Q3'FY24

Gross NPA 1,237 981 1,340
Less: Cumulative Provisions 836 736 884
Net NPA 401 245 456
Gross NPA Ratio 1.67% 1.66% 1.98%
Net NPA Ratio 0.55% 0.42% 0.68%
Provision Coverage Ratio 76% 78% 72%
GNPA % (Incl. Securitized Book) 1.57% 1.61% 1.83%

*Additions/Reductions to GNPA presented for the quarter exclude any intra-quarter additions and reductions i.e., Loans which slipped into NPA during the quarter, and which got
subsequently upgraded/write off within the same quarter are excluded
48
 Provisioning summary Standalone

₹ in Crores

Credit Cost Q4’FY24 Q4’FY23 Q3’FY24 FY24 FY23

Provision on NPA and Write off 90 20 143 427 144
Repossession loss & POS loss 30 26 22 95 106
Standard & other provision 25 15 7 52 49
Covid restructuring provision -7 -11 -11 -45 -76
Less: Bad Debt Recovery (Other Income)* 15 6 7 49 23
Net Credit Cost (A) 123 43 154 480 199
Net Credit Cost (% of Avg. Total Assets) 0.47% 0.20% 0.62% 0.48% 0.25%
Less : Contingency Provision (B) 5 8 2 90 67
Add: Bad Debt recovery* (C) 15 6 7 49 23
Total Provision Expense (charged to P&L = A+C-B) 133 41 159 439 155
Total Provision Expense (as % of Avg. Total Assets) 0.50% 0.19% 0.64% 0.44% 0.19%
Write off during the period 137 18 119 327 101

❑ Credit cost for Credit card for Q4’FY24 is similar to Q3’FY24 at ~₹45 Cr. We expect the credit costs for this business to be in-line with industry as our
book attains size and gets seasoned

*This is reported in the other income line; Credit cost and Provisions expense % are annualized
49
Overview of total provisions Standalone

₹ in Crores

Mar’24 Dec’23
Particulars Loan Loan
Nos. Provisions Coverage Nos. Provisions Coverage
Amount Amount
GNPA 59,827 1,237 795 64% 60,535 1,340 843 63%
Covid related restructuring (Standard) 4,627 426 70 16% 5,157 468 77 16%
Contingency provisions 0 5
Floating provisions 41 41
Stressed and contingencies provisions 1,663 907 1,808 966
Provisions towards Standard Assets 238 215
Total Provisions 1,145 1,181
Provisions as a % of gross advances 1.55% 1.75%

❑ The Bank’s provision coverage ratio stands at 76%

❑ GNPA ratio declined by 31bps to 1.67% compared to 1.98% in previous quarter; Standard Restructured loans declined to 0.6% vs 0.7% QoQ

50
5. Digital Bank AU0101

29.5 Lacs+ customers on AU0101

47% customers acquired via digital

products in Q4’FY24

9.6 Lacs+ live credit cards

60%+ savings account and 45%+ credit

card customers acquired digitally in
Q4’FY24

51
 Inching towards building sustainable Digital bank AU0101
Target Digitally
01 Native Customers
Gen Z, Millennials, Urban,
Salaried and Professionals
*NTB PL planned for Q1’FY25 launch; ⁺In pipeline
02
ACQUIRE
Expanding Product Suite across Savings Account, Current
Account, Fixed Deposit, Corporate Salary, Credit Cards,
Merchant Lending and Personal Loan*. Building
differentiated product suite for digital native customers.
03
ENGAGE
Accelerators⁺ like Account Aggregator, Bureau View,
Video Banking and PFM’ in addition to Banking , to
enhance customers experience and enrich data. Giving
more reasons to a customers to bank with us.
04
GROW
Personalized communication based on triggers and
behavioral analysis; Product offerings to increase
Product holding per customer across cards, loans,
accounts, insurance and wealth products
52
01 | Target Digitally Native Customers, Digital Savings Account case study

PAN India digital Reach and growing… Customer Persona

74% 56% 77%

Urban Salaried professionals 18-35 years age

Acquisition Channel
Inorganic Channel
67%
Organic Channels

22%
11%

Ads & Affiliates Website AU 0101

Device Profile

Mobile 94%

Desktop 6%

53
 02 | Acquiring by continuously expanding digital product suite….

Q1 Q2 Product additions, improvements Q2 New Launches Q3

FY22 FY22 and new features FY24 FY24

Savings Account Credit Card Current Account Corporate Salary

Savings Credit Current Corporate

Account* Card* Account** Salary**

Digital 40% 11% 4,900 2,400

Acquisition Uptick in Savings Account Uptick in Credit Card QoQ Current Account acquired Corporate Salary acquired
QoQ acquisition acquisition digitally in Q4 FY24 digitally in Q4 FY24

Bank-wide
sourcing
Contribution
60% 46% 23% 7%
Contribution to total SA Contribution to total Credit Contribution to total CA Contribution to total
opened during Q4’FY24 cards during Q4’FY24 opened during Q4’FY24 Corporate salary account
opened in Q4’FY24
Organic AU0101 19% 2%
and Website SA Accounts sourced Credit Cards sourced via
via AU0101 and website AU0101 and website

Excluding BSBDA accounts. *Digital Acquisition; **recently launched products

54
… Expanding cross sell and Engagement hooks on AU0101

Q4 No Cost
FY24 Cross Sell
Limited incremental Analytics Driven Personalised and
Focus on Engagement Digital First Cross Sell
cost Next Best Product Engagement based
and X Sell

AU0101 X-Sell and Engagement in Q4’FY24

13.6k 2.2k 12k 63k 86k

Savings Account Credit Cards acquired on Personal Loans disbursed Credit card transactions FDs and RDs booked
acquired on existing base existing customers' base via pre-approved offers converted to Xpress EMI
across Cards and Assets
customers

Additionally, Engagement is being driven across existing customers base via Bill Payments, UPI Transactions and A/c
upgrades

55
 03| AU0101 – 7X growth since launch with 2.9 million+ on AU0101

Increasing Bank Wide customer engagement*… 7X Growth on AU0101 since launch

CA SA
Mar’23 Mar’24 Mar’23 Mar’24 Registered users

Monthly transacting 26.3

29.5
1.4 1.7 10.9 14.6 23.7
customers (Lacs) 19.2 21.2
16.3
14.3
10.5 11.9
Transacting customers as % 7.8
70% 68% 58% 60% 4.5 5.8
of total customers1
Jun'21 Sep'21 Dec'21 Mar'22 Jun'22 Sep'22 Dec'22 Mar'23 Jun'23 Sep'23 Dec'23 Mar'24
Avg. monthly transactions
69 82 33 43
per transacting customers
Monthly active users
Product per customer (PPC) 2.0 1.9 1.6 1.5 15.9
13.1 14.1
12.2
11
8.1 9.2
…at lower incremental cost to serve 4.4
5.9 6.7
2.3 3.2

10% Jun'21 Sep'21 Dec'21 Mar'22 Jun'22 Sep'22 Dec'22 Mar'23 Jun'23 Sep'23 Dec'23 Mar'24

98% Digital transactions2

3% 94% Liability service 3

requests fulfilled
digitally
34 Lacs 1.2 Cr 2.8 lacs
Service Requests served Financial Transactions Average Daily Users
Branch SA Video Banking SA in Q4 done in Q4 in Q4
% SA customers visiting branches for any service3

1: Excluding dormant and BSBDA 2: CASA customer-initiated transactions 3: Money transfer (Internal, IMPS, NEFT, RTGS), UPI, Bill Payment, Lifestyle
*numbers for corresponding month for accounts across bank
56
03| High engagement among digitally acquired customers

Savings Account

83% 80% 90%

Transaction active Active debit card Active on AU0101
customers customers

Credit Card
57% ₹20K 91%
Purchase active Spends per month Active on AU0101
customers (30 days)

Current Account

86% 87%
Transactionally active Active on AU0101
customers

57
04| Growing by fulfilling more of customer needs across their lifecycle

Activate Grow Cross Sell Upgrade

❑ Activating across banking ❑ Grow relationship by ❑ Pitch the right product, to ❑ Upgrade customers’
suite on AU0101 and Video understanding customers’ the right customers at the product suite across their life
Banking wallet size and persona right moment cycle
❑ Activate Account ❑ Leverage Personalization, ❑ In App full stack offerings ❑ Upgrade accounts, cards and
Aggregator, D2C Bureau trigger-based nudges and across cards, loans, loans suitable for customers
Reports and PFM behaviour insurance, wealth and life cycle
❑ Activate Debit and Credit ❑ Build balances, drive card accounts ❑ In App nudges to upgrade
Cards, Transactions, spends and unsecured loan ❑ Leveraging differentiated accounts, cards and loans
Payments and UPI handle book product suite tailored for
creation digitally native customers

58
 … by constantly upgrading AU0101

Creating tailored experiences… …while focusing on creating engagement hooks

OneTrack
UPI & BillPay 2.0
Personal finance manager powered Account
New features, better performance and superior
Aggregator, enabling customers to track their
user experience to drive habit-formation and
engagement transactions & account balances across banks

Send money abroad Refer-a-friend

Introducing outward remittance experience A personalised referral program to drive organic
for transferring funds from India to abroad customer acquisition among friends and families
Introducing AU0101 Business
A dedicated app designed while keeping
merchants in mind

Note: Staggered launch planned in April and May

59
Credit Card - continues to scale with strong performance across key metrics

Adoption Acquisition Engagement Growing Portfolio

9.6 lacs+ 1.59 lacs 5,391 Cr+ 3,148 Cr

Cards Live New users acquired in Q4’FY24 Spends In Q4’FY24 Credit Card receivables

16% 90% 7% 19% 9% 86% 13% 114%

Q-o-Q Y-o-Y Q-o-Q Y-o-Y Q-o-Q Y-o-Y Q-o-Q Y-o-Y

❑ Monthly acquisition ~ 53,000 driving CIF growth of 16% QoQ ❑ Highest ever monthly spends ~ ❑ 114% YoY growth led by strong
❑ Building Corporate Cards Business: 510 corporates onboarded ₹ 1,918 Cr. in Mar’24 distribution, spend engagement
as of Mar’24 ❑ Spends per card ~ ₹ 20,000 pm and increase in term book
❑ We have done calibrations to our Underwriting Engine (BRE) ❑ Driving Rupay engagement: ❑ 146% YoY increase in EMI book
in past 12 months basis our learnings which is showing ~2.4x transactions per card per ❑ Increase in EMI book yield at 19%
encouraging signs of reduction in early delinquency trends user vis-a-vis other cards

60
Business progress so far on portfolio level

New to Bank Customer Salaried Customers Salaried profile mix Bureau Band
7.9%
1.9%

76% 75% 70%

90.2%

NTB customers constitute a Distribution in salaried Share of Super CAT A/

CAT A/GOVT >=740 <740 NTC
larger share currently segment.

Limit Utilization Card Activation % Purchase Active % Core Markets

19% 98% 54% 32%

Healthy limit utilization Customers who have 30 Days purchase Outstanding cards are
19% activated their cards. active in Core markets

61
 UPI QR – Aligning with Branch banking for deepening of merchant wallet

Acquisition ~11.5 Lacs 71% 2.5 Lacs

UPI QRs installed till Q4’FY24 Activation rate* NTB customers acquired
through UPI QR till Q4’FY24

~2.8 Cr ~3.3 Lacs ₹3,461 Cr

Transactions in Q4’FY24
Engagement
97%
Value of transactions credited
to AU accounts in Q4’FY24
Daily average Value of transactions in
transactions in Mar’24 Q4’FY24
109%
Increase in CASA AMB (Average
Monthly Balance) post QR install

Lending ~₹378 Cr+ ₹1.8 Lacs

Loans disbursed basis Average loan ticket size
transactions data till Q4’FY24

*At least one transaction after QR setup

62
6. Other Key Information

Strengthening our brand – “Badlaav Humse Hai”

21,210+ Youth trained under skill development

program and 16,504+ youths employed

2 youth, part of AU Bano champion programme,

selected for National U-17 football team

Promoting Green Fixed Deposit product

“Planet First”

63
Brand Campaign | Badlaav Humse Hai

64
64
Improving Sustainability ratings

Launched “Green FD” program

Improved from “Medium” to “Low” Risk Improved Rating from “F” to “D” on
One of A Few Indian banks in Low Risk Category Climate Disclosures

Externally Assured GRI Reports

Continuous Improvement – Featured in FTSE with 60+ Score

Current Score 39

Board defined ESG Policy & Framework Rated AA

65
Sustained focus on ESG initiatives

Environment Social Governance

Environment is a recognized Addressing the Occupational, Residential, Compliant on all governance parameters
stakeholder for AU and Social vulnerabilities

Deposits till 31st Mar’24 - COE for Skills Development Independent and diversified Board –
8,700+ Green FD Accounts Till Q4’FY24, 21,210 youth were trained and 16,504 - 8 of 11 directors are independent and
₹600+ Crore Green FD raised (78%) linked to employment across 16 centers of non-executive
Rajasthan. AU Ignite operates on a Hub & Spoke - 2 of 11 directors are women directors
Lending model. Hub offers upskilling and reskilling courses
-₹120+ Crores deployed in Green Asset such as Full Stack Development, Salesforce & AI at
Fostering Sustainability Framework –
lending our Future Skills Academy and the Spoke
Sustainable Planet, Sustainable AU
- Solar Projects and Electric Vehicles getting academies cater to initial level skill development.
Preserve Environment, Promote Social
funded with Greater Traction in retail
Inclusion & Practice strong Governance
segment
AU’s Sports Initiative
It is live across 64 locations with Continued improvement on rating
IGBC platforms like DJSI, Sustainalytics, CDP &
8,100+ children benefitted. Bano Champion 2nd
AU Digital Bank (Turbhe)
received Green Building – state level tournament concluded with over 1,500 Refinitiv
Gold Award athletes competing from 22 districts across 7 sport

- Women Entrepreneurship
Till date, 2,400+ women are engaged and 820 are
nurtured under Individual Women
Entrepreneurship initiative with 96 empowered in
Q4’FY24

66
 Financial & Digital Inclusion
Universal Access to Financial Services
➢ 31% of our total touchpoints/branches – 334 are in unbanked rural centres (Tier-VI, population less than 5,000 & Tier-V, population less than 10,000)
➢ Present in 50 Special Focus Districts* with 94 touchpoints covering 23 Aspirational districts, 13 Left Wing Extremist Affected Districts, 13 Hill States
Districts and 1 North Eastern Region District.

Providing Basic PM Jan Dhan Yojana 21% BSBD ac4

counts are Aadhar seeded, received Direct Benefit Transfer of 176 lakhs in FY21
Bouquet of Particulars BSBDA MUDRA PMJJBY PMSBY APY
Financial Services
Count 4,67,400+ 2,33,400+ 1,00,800+ 1,41,000+ 1,03,000+

Received Direct Benefit Transfer of ₹15.5+ Cr in FY24 in Aadhaar seeded accounts.

PM SVANidhi IGUCCY

➢ Supported 1,200+ street vendors ➢ Supported 690+ micro

entrepreneurs

Financial and Digital Literacy

➢ Organized 10,550+ Financial Literacy Camps at rural branches. Data as on 31st Mar’24

*The list is prepared taking cognizance of special focus districts classified by NABARD, MYMSME, NFDB & NITI AAYOG.
67
Impact stories – click to listen

68
AU’s customer testimonies
Name: Kuldeep Sharma
Business: Sales Manager
Category: AU Ignite
Location: Jaipur
“मेरे पिता सेवानिवत्त
ृ हो गए हैं और जीवि के उस
समय का आिंद ले रहे हैं।
इस दौराि उिका भरण-िोषण करिा मुझे
गौरवान्ववत महसूस कराता है ।
मेरे जीवि में आए सभी अच्छे बदलावों का श्रेय
एयू बैंक को जाता है ,
न्जसिे मेरे जैसे लोगों को कौशल प्रदाि करिे और
उवहें आर्थिक रूि से स्वतंत्र बििे में
मदद करिे िर केंद्रित एक अकादमी की स्थाििा
की है ।”
Name: Meenakshi Devi
Business: Sarpanch
Category: AU Udyogini
Location: Navrang Pura, Ahmedabad
“हमारे गांव की कई मद्रहलाएं आजीपवका कमािे में
सक्षम िह ं थीं, लेककि एयू उद्योर्गिी िे उवहें
स्वतंत्र होिे और अििे िररवार के ललए प्रदाि
करिे में मदद की। मैं अििे गांव की मद्रहलाओं
की मदद करिे के ललए बैंक का आभार हूं।”
Name: Vikas Mukhraiya
Business: Grocery Store Owner
Category: Current Account Holder
Location: Sagar, MadhyaPradesh
“I have been running a grocery
supermarket and have been using AU
Small Finance Bank's QR code for the
past year. The overdraft benefit has
really helped me with paying vendors
on time, preventing me from incurring
penalties. AU Small Finance Bank's
current account has provided me with
a lot of convenience in business
banking.”
69
Abbreviations

BSBDA Basic Savings Bank Deposit A/C OPEX Operating Expenses

CASA Current Account Deposits and Savings Account Deposit P&L Profit & Loss Statement

CoF Cost of Fund PAT Profit After Tax

CRAR Capital Adequacy Ratio PMJJBY Pradhan Mantri Jeevan Jyoti Bima Yojana

DII Domestic Institutional Investors PMSBY Pradhan Mantri Suraksha Bima Yojana

DPD Days Past Due QoQ Quarter on Quarter

LCR Liquidity Coverage Ratio REG Real Estate Group

MUDRA Micro Units Development & Refinance Agency Ltd. RoA Return on Average Assets

NBFC Non-Banking Finance Company RoE Return on Average Shareholder's Fund

NII Net Interest Income TD Term Deposit

NPA Non-Performing Assets YoY Year on Year

NTC New to Credit YTD Year to Date

EWS Early Warning Signal SMA Special Mention Account

LDR/ CD Loan to Deposit / Credit to Deposit ratio

70
Definitions

a. Market Share Market share calculated as per the data reported by RBI for Scheduled Commercial Banks

Core Markets are smaller centres in rural/semi-urban which typically have a local economy built around agriculture and
b. Core Markets
small businesses, and which have traditionally been our traditional markets for lending.

c. Urban Markets Larger centres which have more advanced infrastructure such as airports, malls etc. are defined as Urban Markets

d. CASA Ratio Calculation for CASA Ratio is (Current account + Savings account) /Total Deposits including CDs

Calculated as the weighted average yield on Gross Advances at the end of months within the respective period; from
e. Yield on Advances
Q3’FY23, it is changed on a daily basis

f. NIM Net Interest Margin is calculated on the Interest earning Assets including off book assets on a daily basis

g. Net NPA Net NPA Calculation does not include contingency provisions that the bank is carrying

h. Retail TD Retail TD refers to all TD having balance less than ₹2 Cr ; Bulk TD refers to all balances of ₹2 Cr & above

i. Gross Advances Gross Advances includes interest arrears on standard advances

Tech savvy Tech savvy customers are those who are digital in their lifestyle but may not necessarily be active on AU SFB’s digital
j.
customers channels

k. Digital Products Video Banking SA & CA, Credit Cards, UPI QR, Personal Loans and AU0101

Transacting
l. Customer initiated transactions on total Savings Accounts base, excluding dormant accounts
Customers

m. PCR Provision Coverage Ratio (PCR) is including Technical Write off

71
Disclaimer

This presentation has been prepared by AU SMALL FINANCE BANK LIMITED (the “Bank”) solely for information purposes, without regard to any specific objectives,
financial situations or informational needs of any particular person. All information contained has been prepared solely by the Bank. No information contained herein
has been independently verified by anyone else. This presentation may not be copied, distributed, redistributed or disseminated, directly or indirectly, in any manner.
This presentation does not constitute an offer or invitation, directly or indirectly, to purchase or subscribe for any securities of the Bank by any person in any jurisdiction,
including India and the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment
to purchase or subscribe for any securities. Any person placing reliance on the information contained in this presentation or any other communication by the Bank does
so at his or her own risk and the Bank shall not be liable for any loss or damage caused pursuant to any act or omission based on or in reliance upon the information
contained herein. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or
correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation.
Further, past performance is not necessarily indicative of future results.
This presentation is not a complete description of the Bank. This presentation may contain statements that constitute forward-looking statements. All forward looking
statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant forward-
looking statement. Important factors that could cause actual results to differ materially include, among others, future changes or developments in the Bank’s business,
its competitive environment and political, economic, legal and social conditions. Given these risks, uncertainties and other factors, viewers of this presentation are
cautioned not to place undue reliance on these forward-looking statements. The Bank disclaims any obligation to update these forward-looking statements to reflect
future events or developments.
Except as otherwise noted, all of the information contained herein is indicative and is based on management information, current plans and estimates in the form as it
has been disclosed in this presentation. Any opinion, estimate or projection herein constitutes a judgment as of the date of this presentation and there can be no
assurance that future results or events will be consistent with any such opinion, estimate or projection. The Bank may alter, modify or otherwise change in any manner
the content of this presentation, without obligation to notify any person of such change or changes. The accuracy of this presentation is not guaranteed, it may be
incomplete or condensed and it may not contain all material information concerning the Bank.
This presentation is not intended to be an offer document or a prospectus under the Companies Act, 2013 and Rules made thereafter , as amended, the Securities and
Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended or any other applicable law.
Figures for the previous period / year have been regrouped wherever necessary to conform to the current period’s / year’s presentation. Total in some columns / rows
may not agree due to rounding off.
Note: All financial numbers in the presentation are from Audited Financials or Limited Reviewed financials or based on Management estimates.

72
For Investor queries contact (details in QR Code):
Prince Tiwari

Email: investorrelations@aubank.in